Selling a Home in Todays Market?--Make Sure Your Scale isn’t Broken!

By
Real Estate Agent with REMAX Results Minnesota License#90858

A few years back there was a weight loss contest at our Keller Williams Premier Realty office in Vadnais Heights, Minnesota. It started as a way for people to inspire each others wei ght loss and help keep to New Year's resolutions. A scale showed up in the office bathroom for participants to track their achievements. Though not a part of the contest, I stepped on that scale now and again. I hated that dumb scale...It seemed to weigh heavier than my scale at home by about five pounds or so. I didn't like the numbers, so I avoided the scale.

Last week, I decided to give the office scale one more chance...I have been cutting back for the past few days. Maybe the scale could be my friend after all. Well, low and behold, the scale was my friend! So friendly in fact, that I weighed a whopping 50 pounds less than I had weighed on my scale at home this morning! For a split second, the sun was shining brighter, birds started singing; everything was right in the world!

Reality Check....This is the office scale. Somebody who didn't like their numbers had probably kicked the darn thing against the wall after their weigh in. It WAS BROKEN!! I knew this on an intellectual level; but on another unrealistic, basic feel-good level, I wanted to believe the incredibly low numbers that I haven't seen my pre-teen years.

The euphoria of an unrealistic weigh-in was very short lived. A broken scale may give me a number I want to see, but not the number I need to know.

As I drove off to a listing appointment, I started to think about how some home sellers really prefer the unrealistic numbers of a few years back. They use a "broken scale" by measuring their home's value by their neighbors' sale price or a two year old appraisal. Some seem to think that they should get double the return of every penny spend on a remodeling project. And those who interview several agents and compare the competitive market analysis's (CMA's) will often choose the agent with the values their home the highest without question. 

It's time for a Realty Reality Check.

 As a Realtor, I work diligently to get good numbers, to be your scale and weight the value of your home appropriately and correctly. In this market many people do not like the numbers. If you don't have to move, you don't have to get on the scale. If you are not moving in the next few years, don't worry about the value of your home. The numbers will be different when it comes time for you to sell. Properly maintain your home it will retain a good market value.

Those have to move must step on a REALITY scale today. Due to a job relocation or change in family or financial situation waiting out the market is not an option. These sellers must be realistic when they step on the CMA value scale no matter how ugly the number is. They have to cut back on the junk and declutter their homes. They need workout hard to prepare the home for sale by making any and all repairs that potential buyers will find concerning. And they must have a proper realistic weigh-in with an accurate CMA from a professional Realtor. Take off the rose-colored glasses and listen to the professional advice of your real estate agent to get your home ready to sell and properly price your home from the start. Using a broken scale is not an option if you want to sell your home.

Other articles on 'Selling Your Home in a Buyers Market' that might be of interest:

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet.  Acreage homes are my specialty! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 Teri Eckholm  http://www.terieckholm.com/

Posted by

Teri Eckholm. REALTOR with RE/MAX Results, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2014 www.terieckholm.com

 

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Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Sally--We have unrealistic buyers and agents too...Can't wait until everyone's thinking has adjusted to changed market and everyone becomes realistic. Much easier to have win-win transactions for all parties. Thanks for your comments! ;-)
Jul 20, 2007 08:25 PM #20
Rainer
52,713
Sue Argue
Staged First Impressions - Hampton, NH
NH Home Stager
Great analogy for this thin market!
Jul 20, 2007 08:33 PM #21
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Sue--I wish I could think of a great reply pun but just can't...Thanks for the comment! :)
Jul 21, 2007 08:08 AM #22
Rainmaker
412,348
Mesa, Arizona Real Estate Mesa Arizona Realtor
Teri Ellis at Homes Arizona Real Estate LLC - Mesa, AZ

Teri, what a great analogy, and good blogger you are. Love your photos too. I had to drop by and share my two cents.

 Pepper http://www.GlitterMaker.com/ - Glitter Graphics





Jul 21, 2007 12:59 PM #23
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Teri--I am glad that you enjoyed...and always appreciate your comments! :)
Jul 21, 2007 01:03 PM #24
Ambassador
897,570
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Realtor - Ann Arbor Real Estate
Teri, I appreciate this story in more than one way !! :)
Jul 21, 2007 07:11 PM #25
Rainmaker
452,971
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Teri - you are the master storyteller - you make great real estate points with your stories
Jul 21, 2007 07:39 PM #26
Rainer
83,563
Joanne Hanson
Coldwell Banker Colorado Rockies Real Estate - Frisco, CO
Summit County, Colorado Realtor

HI Teri,

a wonderful analogy that will make it easy for any seller to understand and get the message.  Although people with Ham Lake real estate to sell may not appreciate it initially, eventually they figure it out and now that you are right!

Jul 21, 2007 08:11 PM #27
Rainer
234,312
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL
I've lost listings to "other agents" who will list homes nice & high "assuring the sale" and then break the reality to clients after the agreements and contracts are signed.  AMAZING how "false info" can get someone a listing.
Jul 21, 2007 08:59 PM #28
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Missy--I think we have all hoped for a 50LB drop and/or drop kicked the scale once or twice. :) Glad you enjoyed it.
Jul 21, 2007 11:26 PM #29
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Cyndee--Thank you! Funny how so many things can relate to real estate isn't it?
Jul 21, 2007 11:27 PM #30
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Joanne--Thank you! Any seller that cannot be realistic about their pricing is not going to sell in Ham Lake or anywhere in Anoka County, MN or across the US. Buyers have too many other options.
Jul 21, 2007 11:29 PM #31
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Susie--I have heard it is better to get those listings the 2nd time around as they do not sell at the higher price and when the listing expires the sellers are upset with the agents and ready to work with a professional.
Jul 21, 2007 11:35 PM #32
Rainmaker
292,373
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate
Those darn broken scales........maybe Walmart can have a blue-light special, oops that's K-Mart, on new scales for all the people that are trying to sell their homes using outdated, or otherwise inaccurate pricing for their homes.
Jul 22, 2007 04:08 PM #33
Anonymous
Anonymous
Anonymous
Wow, this is a great read.  I love th analogy.  Thanks.
Jul 22, 2007 04:39 PM #34
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul

Kathy--Sellers don't need blue light special scales...They need us! Professional Realtors and they need to listen to our price recommendations! Thanks for the comments...I see you caught on to the joke :)

Jul 22, 2007 08:56 PM #35
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Barbara--So glad that you enjoyed it...You are welcome!
Jul 22, 2007 08:57 PM #36
Rainmaker
133,730
Jennifer Kirby
Kirby Fine Homes - Minneapolis, MN
The Luxury Agent
Teri - you come up with the best posts and connect two topics together so well. What a fun read this was on a hot Wednesday!
Jul 25, 2007 01:56 PM #37
Rainmaker
606,603
Teri Eckholm
REMAX Results - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul
Jennifer--Sometimes things just come to me. :) I appreciate your comments and am glad you enjoyed.
Jul 26, 2007 07:42 AM #38
Rainer
51,727
Diane Velikis
Coldwell & Banker Busch Real Estate - Luzerne, PA
Luzerne County Real Estate
a great analogy.... Thanks for the good read
Jul 30, 2007 06:15 PM #39
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Rainmaker
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Teri Eckholm

Acreage & Lakeshore REALTOR Minneapolis St Paul
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